Sarah Geegan

Final Financial Model E-newsletter for Fall 2013 Semester

Published: Dec 19, 2013

LEXINGTON, Ky. (Dec. 19, 2013) In a commitment to keep the University of Kentucky community informed and engaged in the process of transitioning to a new financial model, UK Provost Christine Riordan and Executive Vice President for Financial Affairs Eric Monday issued the latest newsletter with updates on the financial model.

 

The e-newsletter was distributed Thursday, Dec. 19.  Following is the full message:

 
 
Dear Colleagues, 
 
In our last communication of the semester about the new financial model, we want to 
discuss how another major pool of resources will be more transparently handled -- the 
tuition dollars we receive from families and students. 
 
UK this year will receive about $345 million of tuition revenue. Under the values-based 
financial model, every college will be given credit for teaching students. 
 
For the most part, except in special cases in which this formula is altered, 75 percent of 
tuition dollars will go to the college of the faculty member where classes are taught 
regardless of a student’s major. And 25 percent will go to the college where a student is 
majoring. In cases of double majors, this portion of the tuition is shared if multiple 
colleges are involved. 
 
It's a transparent way of allocating the flow of tuition dollars throughout the university to 
support the important work faculty do in educating students. 
 
In our current incremental model, tuition doesn’t flow directly to the colleges where the 
revenue is generated. Instead, the university allocates funds to colleges based upon 
defined needs or areas where growth patterns indicate additional resources are 
necessary. Without a direct formula allocation, it is more difficult for colleges to 
determine where to invest revenue in a strategic fashion to create an innovative learning 
environment to educate and graduate students in the most effective way possible. The 
new model allows colleges to see how the funds are flowing and invest in important 
areas as they continue to focus on quality and excellence. 
 
Next semester, we will continue with regular communication about this important tool for 
our institution. As always, the goal is to frequently and transparently continue the 
dialogue over the next year about how the model will help us maximize the work we do 
together. At the same time, as we continue that dialogue, we will be listening for ways 
we can make improvements to the model. Thanks for the great feedback so far. 
 
Thanks and have a happy holiday. 
 
 
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October
 
 
 
1
Internship Info Session
LNFS Presents: Dallas Buyers Club
College of Law Welcomes Trevor Potter
Wed
2
Dancing at Lughnasa
LNFS Presents: Notes on Marie Menken
LNFS Presents: Edge of Tomorrow
UK Jazz Ensemble/ UK Lab Band
Earth & Environmental Science Student Open House
"Nerd Night" Exhibit and Concert
"Anne Braden: Southern Patriot" Film Screening and Discussion
Thu
3
Dancing at Lughnasa
LNFS Presents: My Neighbor Totoro
LNFS Presents: (500) Days of Summer
Men's Soccer vs. Old Dominion
Kentucky Volleyball vs. Alabama
Fri
4
Dancing at Lughnasa
Kentucky Football vs. South Carolina
Free Saturday Swing Dance Lessons
Rock Climbing @ Red River Gorge
Cross Cultural Workshop 2014
Swing Dancing!
Sat
5
Dancing at Lughnasa
Cross Cultural Workshop 2014
UK Children's Hospital/Birthing Center Annual Perinatal Loss "Walk To Remember"
Kentucky Volleyball vs. Texas A&M
Sun
6
Dancing at Lughnasa
Murals of Baltimore
Resumes and Cover Letters
Women of the World: Judy Smith
Mon
7
Dancing at Lughnasa
Murals of Baltimore
Networking and Job Search
UK Choristers
Rock Star Professionalism Series
Stillness in Motion: The Essence of Symmetry - presented by Dr. Carl Lee, Mathematics
Tue
8
Dancing at Lughnasa
Murals of Baltimore
LNFS Presents: Night of the Living Dead
UK Law Day
Wed
9
Dancing at Lughnasa
Murals of Baltimore
LNFS Presents: Dawn of the Planet of the Apes
Mark Berry, Guest Percussion Recital
LNFS Presents: Torch Song Trilogy
Thu
10
Dancing at Lughnasa
LNFS Presents: Shut Up and Play the Hits
LNFS Presents: Watchmen
KLJ Data Privacy Symposium
Big Blue Pantry Food Drive #1
Family Weekend Check-in
Kentucky Women's Soccer vs. South Carolina
Family Weekend: Derek Hughes
Fri
11
Dancing at Lughnasa
Kentucky Football vs. ULM
Free Saturday Swing Dance Lessons
UK International Tent/ Tailgate Party
CT Surgery Symposium: Advances in the Surgical Management of Cardiothoracic Diseases:
Family Weekend Tent Party
Sat
12
Dancing at Lughnasa
DNT 101: A Taste of the Kentucky Doughnut Trail
Big Blue Pantry Food Drive #2
Kentucky Volleyball vs. Auburn
Sunday Lunch at Historic Spindletop Hall
Men's Soccer vs. Marshall
Sun
13
 
Mon
14
Job Club - Social Media and Your Career
Massage on the Go
Tue
15
LNFS Presents: The Last Samurai
UK Symphony Band Concert
Women's Forum Conference 2014
#TrendingTopics: Pornography vs. Morality
Wed
16
Career Assessment Workshop
LNFS Presents: The Tree of Life
LNFS Presents: Guardians of the Galaxy
UK Wind Symphony
Thu
17
LNFS Presents: Princess Mononoke
LNFS Presents: The Hitchhiker's Guide to the Galaxy
Kentucky Women's Soccer vs. Ole Miss
Berlin Philharmonic Wind Quintet
Fri
18
Paint the Town Blue
Free Kaplan Entrance Practice Exams
4th Annual Big Blue Soccer Tournament
Men's Soccer vs. New Mexico
Sat
19
Paint the Town Blue
UK Men's Chorus and acoUstiKats
Jazz Spectacular
Kentucky Volleyball vs. LSU
Kentucky Women's Soccer vs. Florida
Sun
20
Paint the Town Blue
Midterm of 2014 Fall Semester
Grad School 101
Royalty Showcase
Mon
21
Graduate and Professional School Prep Week: Preparing for Law School
Graduate and Professional School Prep Week: Grad School Panel: Surviving Your 1st Year
Graduate and Professional School Showcase
Graduate and Professional School Prep Week
Graduate and Professional School Prep Week
Kitty Karnival
Tue
22
Study Tips for Medical School
LNFS Presents: Eternal Sunshine of the Spotless Mind
Getting Into Medical School
Wed
23
Writing a Winning Personal Statement
Career Assessment Workshop
LNFS Presents: Marimbas From Hell
LNFS Presents: The Fault in Our Stars
Homecoming Street Fair
Thu
24
LNFS Presents: Kiki's Delivery Service
LNFS Presents: The Secret Life of Walter Mitty
Fri
25
Kentucky Football vs. Mississippi State
Free Saturday Swing Dance Lessons
Sat
26
UK Women's Choir and Paws and Listen
Bill Cooper Faculty Recital
Sun
27
UK Trumpet Ensemble
Mon
28
Job Club - How To Get A Job at UK: Updates on IES Applicant Tracking System
Tue
29
Internship Info Session
LNFS Presents: The Shining
Pinterest Party
Leadership Assessment
Kentucky Volleyball vs. Tennessee
Wed
30
Career Assessment Workshop
LNFS Presents: Lucy
LNFS Presents: Papirosen
Kentucky Women's Soccer vs. Alabama
Thu
31
LNFS Presents: ParaNorman
LNFS Presents: Carrie
All Hallow's Eve Concert (UK Symphony Orchestra)
Work-Life Retirement Conference
Fri
 
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